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CASA GRANDE, Ariz. and TORONTO, Nov. 12, 2025 – NetNewsLedger Mining – Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought-deal private placement basis, 22,388,100 common shares of the Company (the “Common Shares”) at a price of C$3.35 per Common Share (the “Offering Price”) for gross proceeds of C$75,000,135 (the ” Offering”).
The Company has also granted the Underwriters an option to purchase up to an additional 3,358,200 Common Shares at the Offering Price for additional gross proceeds of up to C$11,249,970, which option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.
The net proceeds of the Offering will be used for early development activities at the Company’s Cactus Project, as well as for working capital and general corporate purposes.
The Common Shares will be offered on a private placement basis pursuant to available exemptions from the prospectus requirement in each of the provinces of Canada, other than Quebec, and in such other jurisdictions as may be mutually agreed to by the Company and the Underwriters. It is anticipated that closing of the Offering will occur on or about December 2, 2025, or such other date or dates as the Company and the Underwriters may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the conditional approval of the Toronto Stock Exchange. The securities to be issued under the Offering will be subject to a hold period expiring four months and one day from the applicable closing date in accordance with applicable Canadian securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)
ASCU’s objective is to become a mid-tier copper producer with low operating costs and to develop the Cactus and Parks/Salyer Projects that could generate robust returns for investors and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company’s principal asset is a 100% interest in the Cactus Project (former ASARCO, Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona. Contiguous to the Cactus Project is the Company’s 100%-owned Parks/Salyer deposit that could allow for a phased expansion of the Cactus Project once it becomes a producing asset. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.
